According to on-chain data, the XRP Ledger recorded a sharp influx of new addresses over a two-day span this week. Santiment reported 21,595 new wallets created in 48 hours — the biggest jump in eight months. The move came as XRP dropped to $2.06 before rallying back to about $2.33, a roughly 13% gain from that low.
Surge In Wallets Draws Attention
Based on reports, the spike in wallet creation has captured market attention because it breaks a recent pattern of heavy selling. Data showed long-term holders were offloading about 260 million XRP per day during last month’s sell-off.
Now, fresh wallets are appearing while prices recover. That combination suggests different groups of traders may be acting at the same time — some cutting losses, others buying the dip.
Community figures point out that total wallets now stand at 7.226 million and are moving toward 7.5 million, according to an XRP Rich List resource.
XRP’s price has bounced back, and users who bought the dip have enjoyed a nice +12% jump in the past 24 hours. Notably, XRP Ledger data indicates there were 21,595 new $XRP wallets created in a 48-hour span in the past couple days, the highest level of growth in 8 months. pic.twitter.com/vkGLwLJjrk
A similar but milder burst of network growth was followed by a climb to a yearly high of $3.66. That historical link is being watched. Still, new wallet creation is a signal rather than proof of sustained buying.
Some of the incoming addresses can belong to exchanges, custodians, or automated services. So the makeup of new wallets matters as much as the number.
ETF Timetable Could Add Fuel
Reports have disclosed that an XRP spot ETF might get a US launch date of November 13. ETF talk has a history of drawing institutional interest into crypto markets, and rumors alone can move prices.
In this case, analysts in the XRP community are tying the wallet growth to expectations surrounding the ETF.
One community analyst, Egrag Crypto, has outlined bullish targets, calling one level “Macro Wick 1” at $10 and another, much higher, “Macro Wick 2” at $50. Those are his technical scenarios, offered as possibilities rather than certainties.
Market Volatility Still Present
The wider crypto market showed how fast things can swing between November 3 and 4, when the total market cap fell by nearly $350 billion and XRP slid about 13.16% to around $2.20.
That pullback is fresh in traders’ minds. Short-term gains can be steep. For example, a $10,000 buy placed two days ago would already have gained about $1,300 after the rebound. Yet big moves work both ways in turbulent markets.
For now, the picture is mixed. New wallets and a 13% bounce are encouraging signs of renewed interest. Historical precedents and analyst forecasts add to bullish narratives.
But wallet growth alone does not guarantee sustained price rises. Investors should watch where the new wallets are concentrated, monitor daily sell volumes, and pay attention to confirmed news about an ETF.
Featured image from Unsplash, chart from TradingView
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According to on-chain data, the XRP Ledger recorded a sharp influx of new addresses over a two-day span this week. Santiment reported 21,595 new wallets created in 48 hours — the biggest jump in eight months. The move came as XRP dropped to $2.06 before rallying back to about $2.33, a roughly 13% gain from that low.
Surge In Wallets Draws Attention
Based on reports, the spike in wallet creation has captured market attention because it breaks a recent pattern of heavy selling. Data showed long-term holders were offloading about 260 million XRP per day during last month’s sell-off.
Now, fresh wallets are appearing while prices recover. That combination suggests different groups of traders may be acting at the same time — some cutting losses, others buying the dip.
Community figures point out that total wallets now stand at 7.226 million and are moving toward 7.5 million, according to an XRP Rich List resource.
A similar but milder burst of network growth was followed by a climb to a yearly high of $3.66. That historical link is being watched. Still, new wallet creation is a signal rather than proof of sustained buying.
Some of the incoming addresses can belong to exchanges, custodians, or automated services. So the makeup of new wallets matters as much as the number.
ETF Timetable Could Add Fuel
Reports have disclosed that an XRP spot ETF might get a US launch date of November 13. ETF talk has a history of drawing institutional interest into crypto markets, and rumors alone can move prices.
In this case, analysts in the XRP community are tying the wallet growth to expectations surrounding the ETF.
One community analyst, Egrag Crypto, has outlined bullish targets, calling one level “Macro Wick 1” at $10 and another, much higher, “Macro Wick 2” at $50. Those are his technical scenarios, offered as possibilities rather than certainties.
Market Volatility Still PresentThe wider crypto market showed how fast things can swing between November 3 and 4, when the total market cap fell by nearly $350 billion and XRP slid about 13.16% to around $2.20.
That pullback is fresh in traders’ minds. Short-term gains can be steep. For example, a $10,000 buy placed two days ago would already have gained about $1,300 after the rebound. Yet big moves work both ways in turbulent markets.
For now, the picture is mixed. New wallets and a 13% bounce are encouraging signs of renewed interest. Historical precedents and analyst forecasts add to bullish narratives.
But wallet growth alone does not guarantee sustained price rises. Investors should watch where the new wallets are concentrated, monitor daily sell volumes, and pay attention to confirmed news about an ETF.
Featured image from Unsplash, chart from TradingView